BUZZ-U.S. STOCKS ON THE MOVE-Alibaba, Venaxis, Harman, Coach

Reuters Staff

6 Min Read

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) The S&P 500 opened little changed on Thursday, while the Dow rebounded after two days of sharp losses on strong labor market data, though weakness in Qualcomm QCOM.O shares in the wake of its results weighed on the Nasdaq. The Dow Jones industrial average was up 0.27 percent at 17,238.59, the S&P 500 was down 0.04 percent at 2,001.29 and the Nasdaq Composite was down 0.26 percent at 4,625.971.

** ALIBABA GROUP HOLDING LTD, $88.79, -9.81 pct

The Chinese E-commerce company’s quarterly revenue fell short of analysts’ expectations, showing signs of a slowdown in the company’s scorching growth.

The world’s biggest fast-food chain, fresh off one of its worst financial years in decades, on Wednesday said Chief Executive Don Thompson would leave at the end of February and be succeeded by Chief Brand Officer Steve Easterbrook.

** FACEBOOK INC, $75.55, -0.91 pct

The social networking website’s revenue grew 49 percent in the fourth quarter, as mobile advertising growth helped the world’s largest Internet social network beat Wall Street’s targets for earnings and sales.

The company’s big spending plans are facing a tough reception on Wall Street.

** VENAXIS INC, $0.5784, -71.65 pct

The in vitro diagnostic company said the U.S. FDA did not find its appendicitis test to be “substantially equivalent” to standard of care, dampening its hopes of marketing the test faster.

** COLGATE-PALMOLIVE CO, $69.33, +6.47 pct

Colgate-Palmolive reported its second straight decline in quarterly sales, hurt by a strong dollar and weak demand in markets such as Brazil and Europe, and the company cut its 2015 earnings forecast.

** QUALCOMM INC, $64.255, -9.49 pct

The chipmaker reduced its outlook for fiscal 2015, saying it expects its newest Snapdragon mobile chip will not be used in a major customer’s flagship smartphone.

** SALIX PHARMACEUTICALS LTD, $133.76, +4.59 pct

The drugmaker said it would restate financial statements for all of 2013 and the first three quarters of 2014, adding to the company’s list of woes.

** BOEING CO, $142.37, +1.96 pct

The airplane maker on Wednesday said the tide of commercial aircraft demand will keep rising despite cheap oil and a strong dollar, and that it was getting more adept at converting plane orders into piles of cash.

The handbag maker posted a better-than-expected profit for the second quarter as demand for its Poppy handbags improved in North America, its biggest market, from the first quarter and sales rose in China, a key market.

** JETBLUE AIRWAYS CORP, $15.67, -0.63 pct

The airline reported a better-than-expected quarterly profit as it benefited from lower fuel prices and flew more passengers.

** HARMAN INTERNATIONAL INDUSTRIES INC, $117.1, +15.93 pct

The maker of JBL and Harman Kardon audio systems reported an 18.8 percent rise in quarterly revenue as increasing auto sales led to strong demand for the company’s car infotainment products.

One of Brazil’s largest biofuel producers on Thursday announced the end of a plan to repurchase perpetual debt and delayed the planned spinoff of its fuel distribution unit, citing challenging market conditions.

** KATE SPADE & CO, $32.78, +10.26 pct

The handbag maker estimated that its full-year sales jumped 40 percent as demand rose for its high-margin kate spade new york-branded handbags and accessories.

** XENCOR INC, $17.64, +4.26 pct

The drug developer said its experimental drug to treat rheumatoid arthritis showed signs of efficacy in an early-stage study.

** ALLIANT TECHSYSTEMS INC, $128.58, +0.71 pct

Sales fall 20 percent in the company’s shooting sports business, being spun off into a new company, Vista Outdoor Inc. (Compiled by Ankit Ajmera in Bengaluru; Edited by Maju Samuel)